Sirius Stock Saw Volatility Due To Short Squeeze, But Company's Business Model Provides Significant Consistency: Analyst
Portfolio Pulse from Anusuya Lahiri
Sirius XM Holdings Inc (SIRI) saw exceptional price volatility in July due to a short squeeze, but its business model provides significant consistency and predictability, according to Barrington Research analyst James C. Goss. The company reported flat Q3 FY23 revenue growth to $2.27 billion, missing the consensus of $2.29 billion. However, adjusted EPS of $0.09 beat the consensus of $0.08. The company has suspended repurchase activity as it evaluates Liberty’s proposal to merge SiriusXM with Liberty Sirius. The company plans to preview its updated platform on November 8.
November 01, 2023 | 7:00 pm
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NEUTRAL IMPACT
Sirius XM's stock saw volatility due to a short squeeze but its business model provides consistency. The company missed Q3 revenue consensus but beat EPS consensus. It is also considering a merger proposal from Liberty.
The news about Sirius XM's Q3 earnings and potential merger with Liberty Sirius is directly relevant to the company and its stock. The mixed earnings report (missed revenue but beat EPS) and the potential merger could have a neutral impact on the stock in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100